Orders of the Day — Consumer Credit Bill

Part of the debate – in the House of Commons at 4:00 pm on 9th June 2005.

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Photo of Gerry Sutcliffe Gerry Sutcliffe Parliamentary Under-Secretary (Trade and Industry) (Employment Relations and Consumer Affairs) 4:00 pm, 9th June 2005

I am interested in what the hon. Gentleman is saying about the South African experience. Our worry is that a cap will prevent those at the lower end from being able to borrow. I realise that they will have to pay higher charges, but that is connected with their credit rating. What has the effect been in South Africa? We should bear in mind that the UK market is one of the most complex in the world.